SunPower to buy French solar company Tenesol for $165 million

SunPower Corp. .. agreed to buy Tenesol S.A., a French solar company, from Total S.A. for $165.4 million.

Total (NYSE: TOT), a French oil giant, already owns 60 percent of San Jose-based SunPower (NASDAQ: SPWR). And along with this sale, Total agreed to buy 18.6 million shares of SunPower for $8.80 each.

After that purchase, Total will own about 66 percent of SunPower’s stock.

Tenesol, based in Tour de Salvagny, does business in 18 countries. It has factories making solar panels in France and in South Africa.

Read Full Article from Bizjournals.com

- Posted: 2011-12-23 12:28:58

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